Ms Sinéad O'Gorman:

The original valuation has been factored in in the local authority budget and the rate limitation order amount. The amendment we are proposing is that element G in the formula account for the average percentage loss of income on appeal and that it be advised to the Minister by the Commissioner of Valuation when making the order. The Commissioner of Valuation is independent in carrying out their functions and the only party who would able to provide the data accurately. That is the first proposed amendment. The second concerns the second portion of the formula in the second set of brackets. At present, if a global valuation is revised upwards or a new global valuation such as Irish Water this year is added, it cannot be factored in in the formula. As it is, the local authority cannot get the value of it. The second portion of the formula is to allow for that buoyancy to be accounted for. If we raise the upper limit in the rate limitation order for the local authorities concerned, it means that they will be able to get the benefit of a new valuation, or if the figure for the ESB or EirGrid was to go up, it would also apply.